When recording depreciation on factory equipment, which of the following accounts would be credited?

Question

Quizplus · Accepted Answer

Accumulated Depreciation-Equipment is credited when recording depreciation on factory equipment. This account is used to accumulate the total depreciation expense for the equipment over time, reducing the book value of the asset on the balance sheet without directly reducing the reported value of the equipment itself.

When Recording Depreciation on Factory Equipment, Which of the Following